报告题目： Dynamic pricing and inventory control with large replenishment lead times

报 告 人： Xin Chen

报告时间：2018年6月8日（星期五）上午9:30-11:30

报告地点：老校部二楼大会议室218

邀 请 人：工业与系统工程研究所 唐立新教授

Abstract: We consider a joint pricing and inventory control problem with positive replenishment lead times. Although this problem has been extensively studied in the literature, the structure of the optimal policy remains poorly understood. In this work, we propose a class of so-called constant-order list-price policies. We prove that the best constant-order list-price policy is indeed asymptotically optimal as the lead time grows large, which is exactly the setting in which the problem becomes computationally intractable due to the curse of dimensionality.

Resume：Xin Chen received the Ph. D. degree in operations research from Massachusetts Institute of Technology, Cambridge, America, in 2003.  He is currently an professor with the Department of Mechanical and Industrial Engineering, University of Illinois at Urbana-Champaign, America. His research interests lie in supply chain management, revenue management, and optimization. Recently, he has published many papers in these areas, including papers in Operations Research and papers in Mathematical Programming. He received the INFORMS Revenue Management and Pricing Section Prize in 2009. He is a member of INFORMS. He served as an Associate Editor for the Operations Research, Journal of Operations Research Society of China, and Operations Research Letters.